Teacher Retirement System of Texas boosted its position in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 60.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 57,824 shares of the financial services provider's stock after acquiring an additional 21,775 shares during the quarter. Teacher Retirement System of Texas' holdings in Iron Mountain were worth $4,975,000 at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of the company. Wealthfront Advisers LLC increased its stake in shares of Iron Mountain by 9,843.3% during the fourth quarter. Wealthfront Advisers LLC now owns 6,864,832 shares of the financial services provider's stock worth $721,562,000 after buying an additional 6,795,792 shares during the period. Northern Trust Corp grew its holdings in Iron Mountain by 56.1% during the 4th quarter. Northern Trust Corp now owns 4,326,476 shares of the financial services provider's stock worth $454,756,000 after acquiring an additional 1,554,746 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Iron Mountain by 0.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,219,263 shares of the financial services provider's stock valued at $443,476,000 after purchasing an additional 15,097 shares during the last quarter. Norges Bank purchased a new stake in shares of Iron Mountain during the 4th quarter worth $348,249,000. Finally, Nuveen Asset Management LLC grew its stake in shares of Iron Mountain by 39.0% during the fourth quarter. Nuveen Asset Management LLC now owns 2,548,970 shares of the financial services provider's stock worth $267,922,000 after purchasing an additional 715,024 shares in the last quarter. 80.13% of the stock is owned by institutional investors and hedge funds.
Insider Transactions at Iron Mountain
In other Iron Mountain news, CEO William L. Meaney sold 69,125 shares of Iron Mountain stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $100.36, for a total transaction of $6,937,385.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Walter C. Rakowich sold 900 shares of the stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $99.97, for a total transaction of $89,973.00. Following the completion of the sale, the director owned 36,515 shares in the company, valued at $3,650,404.55. This represents a 2.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 240,007 shares of company stock worth $23,649,959. Corporate insiders own 1.90% of the company's stock.
Iron Mountain Stock Performance
Iron Mountain stock opened at $100.24 on Tuesday. The company has a market cap of $29.57 billion, a P/E ratio of 244.49 and a beta of 1.08. Iron Mountain Incorporated has a one year low of $72.33 and a one year high of $130.24. The business has a fifty day moving average of $99.24 and a two-hundred day moving average of $95.95.
Iron Mountain (NYSE:IRM - Get Free Report) last issued its earnings results on Thursday, May 1st. The financial services provider reported $1.17 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.16 by $0.01. The company had revenue of $1.59 billion during the quarter, compared to analysts' expectations of $1.59 billion. Iron Mountain had a net margin of 1.97% and a negative return on equity of 201.62%. The firm's quarterly revenue was up 7.9% compared to the same quarter last year. During the same period last year, the company posted $1.10 earnings per share. Sell-side analysts predict that Iron Mountain Incorporated will post 4.54 EPS for the current year.
Iron Mountain Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Monday, June 16th were issued a $0.785 dividend. This represents a $3.14 annualized dividend and a yield of 3.13%. The ex-dividend date of this dividend was Monday, June 16th. Iron Mountain's dividend payout ratio (DPR) is 765.85%.
Wall Street Analysts Forecast Growth
A number of research analysts have recently commented on IRM shares. Wall Street Zen upgraded Iron Mountain from a "sell" rating to a "hold" rating in a report on Friday, April 18th. Truist Financial initiated coverage on Iron Mountain in a report on Tuesday, April 8th. They issued a "buy" rating and a $95.00 price target for the company. Finally, Barclays raised their price objective on shares of Iron Mountain from $118.00 to $121.00 and gave the stock an "overweight" rating in a report on Tuesday, May 27th. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $121.71.
View Our Latest Research Report on Iron Mountain
Iron Mountain Company Profile
(
Free Report)
Iron Mountain Incorporated NYSE: IRM is a global leader in information management services. Founded in 1951 and trusted by more than 240,000 customers worldwide, Iron Mountain serves to protect and elevate the power of our customers' work. Through a range of offerings including digital transformation, data centers, secure records storage, information management, asset lifecycle management, secure destruction and art storage and logistics, Iron Mountain helps businesses bring light to their dark data, enabling customers to unlock value and intelligence from their stored digital and physical assets at speed and with security, while helping them meet their environmental goals.
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